Swiss firm Credit Suisse to expand in Qatar with support of IPA Qatar

By Shilpa Annie Joseph, Official Reporter
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The Investment Promotion Agency Qatar (IPA Qatar) and Switzerland-based leading financial services company Credit Suisse have entered into a new partnership in order to expand bank’s existing operations in Doha.

Through this partnership, Credit Suisse also intends to establish the Qatar Technology and Engineering Hub.

“This expansion will further strengthen the bank’s leading wealth management business, deepen the bank’s local footprint and contribute to accelerating Credit Suisse’s development and digitization in Qatar and the wider region,” IPA Qatar and Credit Suisse said in a joint statement.

In addition to strengthening Qatar’s position as a leading financial services hub, Credit Suisse will create up to 100 roles over the next few years across all of the bank’s divisions as well as through the launch of the technology and engineering hub.

Further, the hub serves as a strategic asset in the region and a resource pool for numerous Credit Suisse business divisions.

Sheikh Ali Alwaleed Al Thani
Sheikh Ali Alwaleed Al Thani
CEO – IPA Qatar

“We are pleased to embark on a new strategic step in our partnership with Credit Suisse and jointly advance the digital transformation of the financial services sector. The launch of a world-class technological hub in Doha provides further impetus and expertise for sector development and opens many windows of business growth opportunities by fostering technology and innovation. We look forward to continuing our distinctive collaboration with Credit Suisse to advance Qatar’s financial services for years to come.”

Mr. Ulrich Korner, CEO of Credit Suisse said that, “Given the Middle East is a key growth market for the bank, we are excited to be further scaling up our operations in Qatar. We are planning to expand our existing business operations over the next few years across all of our divisions as well as add new functions which will strengthen, broaden and ensure quicker delivery of our offerings to clients.”

“The creation of our Qatar Technology and Engineering Hub will be instrumental in supporting the growth of our franchise across the Middle East and beyond,” Mr. Korner added.

Credit Suisse is present in more than 50 countries around the world and has been operating and actively expanding in Qatar since 2006 via the Qatar Financial Centre (QFC) platform.

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